Charles Taylor announces the expansion of its marine capabilities in Europe, Middle East and Asia through the agreement to acquire Lab Cosulich Consultants (LCC) and CMC Marine (CMC) (together, ‘the Cosulich group’). The acquisition is expected to be completed by the end of December 2020.
Founded in 1952, LCC provide leading services in scientific consultancy, surveying and testing services for the marine and insurance industries. LCC is headquartered in Genoa, Italy and is led by Riccardo Cosulich. CMC was established in Singapore in 2010 and expanded into the UAE in 2019; these operations are led by Diego Cosulich and Gustavo Cosulich respectively. The Cosulich Group will form a core part of Charles Taylor Marine Technical Services; Riccardo, Gustavo and Diego Cosulich will join Charles Taylor and will continue to lead the Cosulich Group business.
The Cosulich Group and Charles Taylor have worked together for over 65 years and the acquisition will add a new service line to the Marine Technical Services business. The Cosulich Group will work alongside Charles Taylor’s growing team of marine consultants and surveyors globally as the business looks to further diversify, enhance and expand its marine-related services. The acquisition will build on the integration of Bowditch Marine and Pilot Marine into Charles Taylor’s Marine Technical Services business in April 2020; and the hiring of a team of expert marine surveyors led by John Poulson in July 2020. Charles Taylor aims to continue to expand its Marine Technical Services team through hiring experienced surveyors around the world.
Oliver Hutchings, Managing Director, Charles Taylor, Marine commented “The acquisition of the Cosulich Group adds a critical offering to our Marine Technical Services business within Europe, Middle East and Asia – all of which are key markets for our expansion. The acquisition reinforces our commitment to creating a unified, global marine surveying structure to support maritime clients, their assets and their insurance arrangements worldwide.”
Riccardo Cosulich, CEO of LCC added “Having worked with Charles Taylor for over 65 years, we are pleased to build further on this partnership and to become an integral part of the Marine Technical Services team. We have long admired Charles Taylor’s business and look forward to developing a unified marine service proposition moving forward.”
Charles Taylor Marine Technical Services offers the full spectrum of technically advanced surveying services from pre-voyage inspections to post-damage surveys. Survey competencies for commercial vessels, mega-yachts and ports include Hull & Machinery, Ocean & Inland Cargo, Warranty, and Marine Property. Charles Taylor Marine Technical Services supports vessel owners and charterers, marine insurers and reinsurers and cargo owners.